MT Educare up 5% as Zee Learn plans to buy stake

The stock of MT Educare, a leading student coaching company, was buzzing on the bourses after a leading newspaper reported that Zee Learn plans to buy a controlling stake in the company.

At 12:14 hours, MT Educare or Mahesh Tutorials was trading at Rs. 82.65 per share, up 1.29 per cent, while ZEE Learn was quoting Rs. 44.55 per share, up by 2.30 per cent.

Zee Learn is an educational company, with a growing chain of pre-school and school and a free to air educational television channel. The company plans to pick-up controlling stake in MT Educare, starting with around 42 per cent stake buy.

Meanwhile, the exchange has sought clarification from Zee Learn and MT Educare on Monday with reference to the news.